For (2), as properties age the rents you command decrease. 

Hi BiggerPockets Community,I’m exploring the idea of renting my 5-bedroom property in Tampa, Florida, to traveling nurses and could really use your advice! 

.#2 - Learn how to run comps so you know the value of the property better than anyone. #3 - Have finances in order (i.e) is this going to be bought through conventional, cash, HML, etc.

Most likely those would be smaller apartments, sub 50 units.It is harder to find solid property management on the smaller apartments.  

Mapped out the money long term. that peaked his interest and he agreed to let me get a rental property.

It usually works out if you have a great property because people will say "wow this is an amazing property for a killer deal" and youll end up with a glowing first few reviews if it pans out. then you are off to the races

We’d love to keep our investment properties closer to home. 

For example, should we focus on acquiring one high-quality property in a strong market, or would it make more sense to spread the investment across multiple lower-cost units in emerging areas?

This is a million dollar property.  

Maintenance is one of the biggest challenges, maybe even #1, in the Property Management industry.Seems maintenance is, Never Fast Enough for Tenants, or Cheap Enough for Owners!